Nigeria Content Online

The Nigerian capital market has continued to thrive despite the
mixed sentiments recorded last week as the bourse closed transaction, during
the past week, higher than the preceding week.

The Nigerian Stock Exchange (NSE) had witnessed weak trading
sentiments in the early part of the week before it later recorded positive
output in the midweek on the back of moderate bargain witnessed across some
sectors, especially the banking sector.

Equity analysts at Proshare Nigeria Limited, an investment
advisory firm, said, “The active transaction recorded in the banking sector
coupled with moderate buying witnessed in other sectors impacted the impressive
outlook recorded as the week closed with aggregate of 1.00 per cent upswing to
step away from flat position recorded in the previous week.”

The key benchmark indices witnessed midweek recovery with
impressive reversal score of 0.77 per cent upward, erasing the previous loss
positions as all the NSE sectoral indices ended on positive note.

Analysts said the sustained buying closed all market indicators
positive while the All-Share Index climbed by 0.44 per cent on Thursday with
positive NSE sectoral indices.

However, the index slipped on weak momentum by 0.04 per cent on
Friday to put month-to-date market performance at a decline of 0.67 per cent
while year-to-date closed positive at 18.48 per cent.

The All-Share Index in the week under gained by 1.00 per cent to
close at 24,689.16 units as against a flat position recorded last week to close
at 24,444.28.

In the same vein, the market capitalisation in the week appreciated
by N78.23 billion to close at N7.88 trillion as against depreciation of N247.19
billion recorded in the preceding week to close at N7.80 trillion.

High volume

The total volume traded in the week closed at 2.02 billion units
valued at N12.43 billion compared with 1.90 billion units valued at N20.21
billion recorded in the previous week. The volume transaction in the week when
compared with the previous week data moved up by 6.41 per cent as against a
growth of 40.49 per cent recorded in the preceding week.

The banking sector emerged the most traded sector in the week in
terms of volume. The volume traded in the sector during the week closed at
972.48 million units valued at N6.94billion compared with the 1.38 billion
units valued at N15.13 billion in the preceding week. The volume traded in the
sector accounted for 48.08 per cent of the entire market. The sector’s volume
transaction was mainly boosted by trading in the shares of Wema Bank, First
Bank, BankPHB,

First City Monument Bank, Zenith Bank, Guaranty Trust Bank and
Intercontinental Bank.

Insurance sector followed with 412.22 million units valued at
N235.88 million compared with the 142.40million units valued at N107.23 million
recorded in the sector the previous week.

The number of gainers during the week moved up to 57 compared with the 36
appreciations recorded the preceding week. VONO Plc maintained previous
position to lead the gainers’ chart again, three consecutive periods, with
25.54 per cent appreciations. A total of 29 stocks recorded price decline in
the week under review compared with the 49 stocks that declined in the previous
week. Livestock Plc topped the losers chart for the week with 19.23 per cent
depreciation.